CYGNVS Inc. emerged from stealth backed by $55m series A and unveiled its pioneering guided cyber crisis platform purpose-built to empower firms to stay Connected, Confident, in Control and Compliant as they prepare for and respond to any cyber crisis.
Why is the product a game changer?
When a cyber crisis does occur, preparation and practice can make a big difference. From data in The Cost of Data Breach Report 2022, firms that are better prepared and practiced save an average of $1.38m in direct costs. CYGNVS (an acronym of CYber GuidaNce Virtual Space) empowers firms to reduce risk before a cyber crisis through preparation and practice and then reduce cost and impact of a cyber crisis with a guided, accelerated response.
With CYGNVS, firms can quickly assemble everyone contributing to the cyber crisis response in a safe, secure environment out of band from internal channels. The platform converts static breach response plans into interactive and actionable processes and checklists.
In addition, internal teams and outside experts can be assigned roles and responsibilities, tasks are communicated in a digestible fashion and plans and workstreams can be easily and quickly updated as people, assets, regulations and threats change.
“No matter how much is spent on cybersecurity, cyber crises are inevitable and every firm needs to prepare and plan for that eventuality. Successful response is surprisingly complex, and most victims fail because they try to cobble together their response at that time. Being prepared and having a practiced plan is critical to cyber resilience,” said Marc Goodman, global security advisor and The New York Times bestselling author of “Future Crimes.”
How is CYGNVS fine-tuning to meet customer needs?
Just as the insurance industry helped drive adoption of building sprinkler systems, which greatly reduced fire risk, the cyber insurance industry has deep expertise in cyber crisis preparation and response. CYGNVS has partnered with AIG, a provider of cyber insurance.
After responding to thousands of cyber breaches, AIG identified various critical challenges to optimize breach response, such as a client’s visibility into the entire end-to-end response process, secure post-event communications, and working effectively and consistently with external response providers including breach counsel and forensic consultants.
AIG helped CYGNVS develop the requirements by providing guidance based on AIG’s experience, expertise and thought leadership in cyber claim resolutions, enabling CYGNVS to develop a robust platform to address the problems of firms worldwide. CYGNVS insurance customers together represent half the cyber insurance market and CYGNVS is being rolled out to clients by leading insurers and brokers complementing their cyber insurance policies.
What is the mission of GYGNVS?
“CYGNVS was founded to help organizations lower their cyber risk by addressing the critical areas of preparation and response. We purpose-built CYGNVS as a guided cyber crisis platform to empower firms to be Connected, Confident, in Control and Compliant before, during, and after a cyber crisis,” said Arvind Parthasarathi, Founder and CEO of CYGNVS.
- Out-of-band, Secure, Mobile
- Accessible Anytime, Anywhere – mobile apps for iOS/Android and all browsers
- Pre-setup, Pre-configured and Ready-to-go
- Rapidly assemble team, assign roles, and initiate response
- Pre-built playbooks and Industry Templates
- Rapidly plug in ecosystem of already onboarded external experts like lawyers, forensics, insurance
- Practice and Simulate to build muscle memory
- Guided workflow supports new or inexperienced team members
- Guided, step-by-step, response execution
- Single Unified Command Center
- Visibility, Tracking, Alerts across Workstreams
- Ensure all required steps are performed with no missteps
- Fine grained access control across internal and external teams
- Help maintain privilege by managing information access
- Audit trail of documented evidence
- Simplify reporting to Regulators, Customers, and other stakeholders
CYGNVS is SOC2 Type 2 certified and ISO 27001 compliant and has been built from the ground up with industry-leading security standards, including multi-factor authentication (MFA), encrypting all data in transit and at rest, and separation and isolation best practices.
How will CYGNVS use the funding?
Led by Andreessen Horowitz, with participation from Stone Point Ventures and EOS Venture Partners, CYGNVS will use the funding to further enhance the platform while expanding sales.
“Traditional multi-tenant cloud architectures don’t work for the complex access and security challenges. The experienced cloud and security team at CYGNVS has built a robust end-to-end cyber crisis operating system from the ground up for successful crisis preparation and response,” commented Angela Strange, General Partner, Andreessen Horowitz.
CYGNVS is generally available across all segments and offered in English, French, Spanish, German, and Japanese. CYGNVS can be purchased direct or accessed as a no-cost benefit of cyber insurance policies from leading insurers and brokers. To learn more, visit website.